Diamonds contribute the highest total imports in January
Thursday, April 30, 2015
This was followed by fuel which contributed P728.7 million, machinery and electrical equipment, food, beverages and tobacco which each contributed 13.5 percent to total imports with P601.1 million and P600.7 million respectively.
Total imports recorded 0.4 percent increase by January this year compared to December last year when imports were valued at P44.2 billion. Revision data also indicate that months of August, September and October last year recorded a small increase of 0.1 percent with P45 million.
Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...